emily: what has surprised you most about amazon and jeff bezos, now almost 20 years later? ill: he has convinced wall street that he is playing this super long-term game, and they let him forgo profits for what is now 20 years. it kind of goes back to what we were talking about with the overfunded startups. he gets to play a different game because he has convinced them it is ok. emily: is it ok? bill: every investor gets to decide that on a daily basis. i think there were multiple periods in amazon's life where people doubted whether the model had long-term legs and they forced him to show more profitability, which he did, and then backed off of. emily: does it matter if amazon never turns a significant profit? bill: it only matters if wall street comes to doubt they can. emily: will amazon have the confidence of wall street indefinitely? bill: boy, i bet they will for a long time. imagine when we did the ipo, they were only selling books, right? i have been fortunate to work with a number of companies that have made a pass just being successful to where they have an ipo, a

. >> we have a new owner, jeff bezos, lots of money. $250 million buying the washington post. it's an accomplishment but you can ask whether that amount of money is enough. right, well, that was the asking price but it's 1% of his net worth and -- [laughter] >> and if as if you bought a sailboat. >> you're assuming something about my net worth. [laughter] >> a small one. >> right, yeah. >> but, you know, this -- i mean, you were talking about syria and obama, these are big challenges for the business of journalism. of finding out in a fair but aggressive way what's going on and can i tell you honestly. i don't think we know enough about what's going on. the secrecy in the white house and institutions and businesses is greater because we have fewer reporters and reporters like to tweet and blog instead of talk to 20 people to get the story. we know less and less. >> when -- you went all jill abramson on me. it's the most see caress e curettive of times. >> i'm not saying it's not -- >> is it our fault or the institution's fault. journalismen down on the ground or institutions a

pimm: jeff bezos. maybe cory you can talk about jeff bezos and his launch facility in new mexico.t anybody knows, that he is working on something. cory: it has been his secret project that brad stone uncovered the details about in seattle. hiring era space engineers -- aerospace engineers. not anywhere as advanced as the effort right now. it is a good time to have a resume that you are an aerospace engineer. who would have imagined this 10 years ago with people all over the world trying to figure out ways to launch things? it is innovation in an area that is not seen any for a long time -- reinventing rockets. the material side is different from what they build it out of. things like carbon fiber. the changes in the way they build the rockets and how they imagine the payload and how much fuel that will use. matt: pimm, you bring up the europeans with their rockets coming out of african ginny or something. and then you have the rockets from russia coming from the pacific because the rockets out of russia that are 20 or 30 years old -- it creates an opportunity for some new blood an

now, yesterday, jeff bezos latest venture blue origin announced it's ready for liftoff. literally.atest in a string of private sector companies soaring into the space. everyone trails this guy, elon musk. despite his successful track-record as an investor and innovator. a lot of people are trying to get a handle on this maverick. pt barnum, whose many claims of fame of discovery of tom thumb. if you can't dazzle them with dexterity. baffle them with bull. musk would say he's probably a modern day in this casinthisnikla tesla. others say that musk has moved into a new realm. a realm of fame and achievement that can only be matched by a fictional character. tony stark. whatever you think, a lot of money has been made following musk's leap along with these modern day variations. thvision eight years. can they keep it going? will it prove to be an illusion? >> (?) let's talk about this. kathy, you must be a big fan of elon musk. i've checked out your funds. you like tesla. you own tesla. it's one of your biggest holdings. what are people getting wrong about tesla? it's not ever going t

i would love to have a conversation with jeff bezos about the self-destructive nature of this particular strategy. emily: amazon is arguing that books must be cheaper in this environment where there are so many media distractions. do you have any sympathy for their argument? malcolm: complete sympathy for it. i just don't understand why, in order to get to that preferred outcome, they have chosen to screw over the people who bring revenue to their business and customers to their site. emily: do you need a traditional publisher for your next book? is there another way? malcolm: is this an industry that is going to be disrupted, the answer is absolutely. will i have the same arrangement for my next book that i had for this one? unlikely. but the arrangement i had for "david and goliath" is better than the arrangment i had for books that came before it. i can imagine a world without traditional publishers, but i can't imagine a world without traditional bookstores. i would like to see a revision of the publishing environment in a way that ensures the continued success of the physical bookst

right now jeff bezos says it's $5 billion. that's amazing. >> when you look at these guys coming into these numbers, i don't think the bar was as low, for example, as on microsoft, but you have a case where the company last quarter showed some margin improvement and showed that they could start to focus on the core business and followed through on that and i think that's a very important thing. look at the stock on chart, consolidating around 380 for the last really since that announcement and looked like it was poised to break out and the numbers that everybody wanted to see, top line growth better margins. >> the amazon web services is stung the growth there. 49% growth. half the market and the only thing that worries me is they have a lot of competition and now that this is broken out and the fact that it's growing so fast that will come into play here, and i say that only because the stock is up so much in after hours. tomorrow morning do you go and buy it? no, you don't. if you get a pullback and let's call it down to the

the alternate model is the amazon model, the jeff bezos model.f you want a desk, it is a recycled door on two sawhorses. go crazy. we are much more on the side of, let's get out the sawhorse desks. and maybe tamp down on the spending. emily: you had a spirited back-and-forth with the activist investor, carl icahn. last week, you called him evil captain kirk. he said some things. i wonder though, do some of these activist investors actually have the same concerns you do? mark: i think they are a result, not a cause. they are a consequence of companies being very cheap on the stock market. they are a consequence of companies needing to restructure. or needing to react to market changes. the activist is a little bit of a sideshow to the core question of how is the company being run. emily: is there a disconnect between wall street and silicon valley? is there a fundamental misunderstanding? mark: i think in the long run -- i do not think in the long run there is a misunderstanding. emily: i'm curious about your thoughts on payments. it is an area th

emily: did you idolize jeff bezos and bill gates? aaron: yeah, everybody knew the bill gates story kind of by heart. what's cool about microsoft is that you can actually go and they let you be a product tester. so a lot of people in high school would actually go to microsoft and test out new products and then they would give you like a free mouse at the end of it. emily: ok, you met your co-founders in middle school. tell me about that. aaron: so, dylan smith, kind of the first co-founder of box who's now our chief financial officer, we actually played trumpet together in middle school. neither of us were any good at that. and then throughout middle school and high school though, i did a lot of stuff on the internet with jeff and later in high school with sam ghods. emily: tell me how box began. aaron: if you go back about ten years ago, not a lot of innovation was happening. so it was really, really hard to do basic things like, how do you share your files, how do you access your data from anywhere, how do you collaborate and work w

for instance, announced for the first time ever total sales for the company's cloud segment, ceo jeff bezos saying a business accelerated quickly. satya nadella said sales doubled. so let's trade the cloud. all part in and parcel to the amazon story. all the upgrades today cited the upside in cloud here. >> crm, sales force, a hidden cloud name. when you ask somebody what their favorite cloud space name is this name comes up. up 14% year to date. quietly all the short-term momentum indicators are racing higher. i think it's still a buy. >> interesting because you take a look at a rack space, 52-week high on the day, on the back of aws. >> another one that rallied today, seemingly on the back -- look at what ibm has done qui quietly. earnings released, stock spikes over 170, down to 163ish. overs the last couple days a nice rally in ibm picking up on that theme. i don't think it warrants this price but clearly something going on over the last couple days in ibm. >> another big earnings trend. video. facebook announcing 4 billion videos are watched on its site every single day. that's a lot o

you have drones, too and like jeff bezos, you are frustrated with the pace of approval from the faa.ors is an advisory company. we don't actually own drones. we work with disaster recovery and will be happy to announce something with the american red cross soon. and we are doing things around the globe in energy. with respect to the faa, one they just approved a whole slew of applications for insurance companies and other things. there is a difference between commercial and industrial use where you are doing things not near airports and urban areas versus what amazon is trying to do. it's very different. brendan: what is the frustration? what is wrong with the pace of the faa approval? or is there anything wrong? robert: they just about a month ago put out their regulatory approval process. it is now in the common timeframe. we and others will give our comments. the truth is, we are the ones manufacturing the best drones around the globe, and people want to use them for industrial and commercial use, and even private joystick use. so many are using it for the joystick use, and it's t

this is how you can see how just days of's runs this company -- how jeff bezos runs this company.ash to keep the business growing, but do not generate a profit. erik: cory johnson, our editor at large out west. everybody is looking forward to the big bloomberg west interview tomorrow. emily chang will sit down with carl sandburg of -- with sheryl sandberg and richard branson. you can watch the whole thing and 8:30 p.m. eastern on bloomberg television. stephanie: coming up, it is one of you new york -- of new york's most well-known museums, and pretty soon, the newest in my hood. the new $400 million whitney. ♪ erik: this is market makers. i am erik schatzker with stephanie ruhle. this would bring you -- this would be a good time to bring you up to speed on top stories. a court in spain has refused the u.s.' request -- shares of general motors are following today. gm's strong sales of light trucks were offset by continuing trouble with the company in russia and brazil. most of that is economic. first quarter profits almost tripled. they did, however, miss analyst estimates. the sen

when people think they can make a jeff bezos he is working on a spaceship, the idea of private sector replacing nasa is appealing to me, but show me the money. >> well, with ticket sales would you want to go to space. david: notes for $100,000. >> bezos and branson want you to bezos has a company called blue origin. it can carry the wealth of 3 -- weight of 3 people and go up, but around 100 meters, it is still within orbit it is supposed to give us a taste of what it is like without breaking the earth's orbit. david: maybe if i walked on the moon i would pay that much money, but. meanwhile, tritter takeover rumors are over, twitter takeover rumors are back. >> well, google is one of them, but rumor we insist on this word google has about 60 billion cash. but question is, why. google plus, this is why this rumor became more circulated has been a fall lure. david: just by spending half of cash they have they could buy it hold. >> twitter has an agreement with google a search deal where retweets can be searched in real-time, people saying these companies already work together. david: al

he is like jeff bezos that way but the fact is we don't know over the next five to ten years where fossill prices are going to be, whether they will be a pull law of the magic battery, it was valuation so high, it is a higher risk situation. but not too high risk. liz: great to see you. david, tesla motors pulling back a bit, closing bell five minute delay. coming up we have reaction to the breaking news out of switzerland, nuclear talks with iran extended once again until tomorrow morning. john kerry saying the french foreign minister rushing back to be part of it. is this a sign of a breakthrough? we have the close of go daddy's first day of trading. stock is soaring 30% in the last couple seconds. it is holding. stay tuned. you got to see this one. you can call me shallow... but, i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro. there's nothing more romantic

i know that's always been the rap against jeff bezos. >> he's pouring too much cash. >> i'm just wonderingight. >> you know, amazon has a lot of capabilities. they're trying to see what sticks. they're trying delivery drones. home services. >> i wonder if you can put a plumber on a a drone. that would be cool. >> we'll propose that idea. go for a test. >> jay-z's new streaming service making waves. you can pay up to 20 want the hi-def quality stuff. a lot of musicians are into this. i saw madonna on there and i thought it can't be that hip. >> i don't know who that guy is. i don't know. but you see kanye west. jay-z. >> but spotify. there's a host of others in this business. what makes them special? >> they're saying that they want to be able to give back to their artists more and give them more of a cut. that's why they're charging $10 a month for the lower version. >> so the lower version is just am radio sound? >> exactly. it's the same music but less perks. probably some sort of advertising in there as well. if you look at the type of musicians we're talking about potentially exclusive

some point, if the shareholders were able to bring pressure -- which they're not, by the way -- jeff bezosmake a move like this. i don't believe shareholders could put pressure on him because of the structure of the company. i think at some point it would make sense for them to split it up. >> it is a fascinating point. amazon web services developed totally organically. started with a guy i think in south africa asking for server space asking if he could rent some. now it is this hugely profitable business. again those critics forever who have been saying amazon's core business is just a lost leader and unsustainable, they'll still be able to say that. >> yeah. but there will still be consumers who are on amazon prime all the time. not going to say anyone on this panel in particular -- let's raise our hands -- you know but that's what people are saying. they are looking at this cloud business and that as the way of the future. now finally we are getting to see real numbers behind that. >> mike flipping back through, we heard from howard schultz on starbucks. is ultra premium brings that he

. >> overall, do you think that jeff bezos will go back to his spending ways? to tell you what jeff bezos wants to do and doesn't want to do would probably be a little bit of pretend on my part. what i think we're starting to hear from the company is a sense that they're on the path towards a little more fiscal rigor and financial discipline. we think that would be a positive trajectory. >> got to leave it there, guys thanks so much. brian, out to you in california. >> reporter: all right melissa, thank you very much. our coverage will continue of the california drought, including the impact that it is having on the economy. stick with us. >>> california is parched. it's the worst drought in decades. when "power lunch" rolls on more from the golden state as people there brace for the fire season. >>> plus where investors and entrepreneurs are finding opportunity in the midst of this long-running california drought. your mom's got your back. your friends have your back. your dog's definitely got your back. but who's got your back when you need legal help? we do.

. >> that's the jeff bezos playbook.t expect any profits from us anytime soon but we are going to grow the business and we're going to do everything we can to grow the business. if you want to buy into us, that's what you're buying into. >> i know bezos doesn't need etsy but why would he want -- >> he could build it on his own. in a way he's doing that. an interesting dynamic, what amazon is doing is they're trying to play both sides of the fence. having items they hold onto inventory which they sell is better for them but the risk of holding onto inventory. they also have a program where they have sellers selling on their platform. the risk there though is they don't control the inventory. so maybe it doesn't ship on time, maybe the package isn't done properly. so what they're doing is they're trying to hold things like, you know, warehouses and fulfillment centers. we're not going to hold the inventory or own the inventory but we will do the process for you so the customer is satisfied. that's a risk factor for etsy go

and as such, jeff, jeff bezos has said that he believes the opportunity is so big that they may be overthe retail company. >> amazon's cloud business faces two main challenges, first is competition. the cloud is becoming a crowded market. with google, microsoft among others. some say this might lead to pricing pressure. and ultimately the commoditization of the cloud space station. second is security, just got really loud here. now given the fact that there are a lot of players using amazon web services, that you have the krimc.i.a. using web services, it only takes one cyberattack for customers to pull away. he says he doesn't think that is a big issue. because amazon is launching a variety of different services, now cloud wasn't the only topic we discussed. i got him to talk about the vision behind drones. listen in. >> definitely these are attention to intention to drive, the time to delivery. and to the absolute minimum. so that you know, within half an hour of your order we will be able to deliver that to you. by whatever means. drones is just one of the ways that we are experiment

paul: and what jeff bezos has shown that the street is ok with . lot of these internet companies who are growing double digits every year -- olivia: facebook is an enormous company still growing north of 40%. that is incredible. yes, advertising disappointed for the first time since 2012. it is a juggernaut. paul: google put up advertising growth tonight. i think a lot of investors will say, we don't mind you putting money back in here because we recognize that the opportunity is there long-term. there was a mad rush in silicon valley for engineers. olivia: the department of defense is out there. one in five minutes that people spend on their mobile phones is either on facebook or instagram. one in five. tom: you are describing me. later on bloomberg television, the chief financial officer of general motors will be on "in the loop." look for that this morning. gm on fire on a cash basis. stay with us. good morning. ♪ tom: good morning, everyone. "bloomberg surveillance." this is my morning must-read. it is so good it is a morning must watch. charge

check out amazon's chief jeff bezos. his holdings rose by about $5 billion today. worth more than $37 billion. which is more than the individual market cap of three-quarters of s&p 500 companies. >>> wow. the hubble telescope turns 25 today it took almost three years to repair the early problems, but now it is sending back spectacular pictures of outer space. it orbits the earth once every 97 minutes. happy birthday, hubble. >>> and that's your cnbc news update this hour. back to you. >> thank you very much. to am and the apple watch. expected to be delivered to some of the first customers who preordered the watch today. it's also available at exclusive luxury stores. one is maxfield in los angeles. analysts estimate apple's preorder sales are close to one million watches. what do we think of the rollout so far? dr. j, i know you're going to say it's a piece of -- >> no. >> you said it in the past. >> i did. but i'll be nice they are time. there will be millions of people that will buy this watch and wonder why they did i think a lot of them wandering around will b

jeff bezos says it best, you have to start with the customer and work backwards. delivering the last customer experience in terms of the design of the product and to the content that you make available. betty: that is what then? anthony bay; we win pretty much on product design. a lot of our designers are from apple. we win awards for that. betty: and hunting, great to see you. anthony bay rdio ceo. we will be back. ♪ betty: jpmorgan, wells fargo and citi reported earnings today. ♪ betty: welcome back to "in the loop." the top stories. futures indicate stocks will open lower. jobless claims below the 300,000 . home construction rose less than forecast. below the one million annualized rate expected. president vladimir putin defense has policy. he fielded questions during his call in show. he is being criticized by the u.s. and israel for selling air defense missiles to iran. he said it will bring peace to the middle east. the ruble is the world's best-performing currency. germany's finance minister is rolling got any more concessions for greece. wolfgang schaeuble

jeff bezos and amazon, it is just a juggernaut.ee a company come in with profits that are even remotely competitive with amazon, we look away. it is so difficult to compete with them. ebay was sort of a pioneer. >> this has been a great move for them but they have lost a little bit of focused in when you take on an entirely new category as a high-growth technology company come it will hurt the core business. if this payment split works out for them, that will be great. matt: one is the world posse's biggest online auction site and the other one cell's sweaters. five it probably has more publicity these days than ebay. matt: a big error for dish network's new online video service. an error message saturday night during the final four, the second game was not one to be missed here the wisconsin badgers defeated the kentucky wildcats in a surprise upset. a spoiler alert in case you had dvr. >> this just points to how important life tv is for the networks. you want to watch something like game of thrones and house of cards. if it does

jeff bezos has said this will be bigger than the retail business long run.l businesses almost $100 billion. that is saying something. if retail is much less profitable i just don't know. we will have to get that break down. alix: do these numbers justify the run-up we have seen? kathy: i think there is an excel rated shift to the cloud. i think enterprises understand if they don't go there they will not be competitive. they have to do this. amazon is doing all kinds of things challenging others in terms of competition. one of the biggest ones as robots. they went to 15,000 robots in one year. everybody has to follow. alix: to your point, we are getting their cloud numbers out now. first quarter 1.5 -- $1.7 billion. kathy: 6 billion was expected. the question is what was the profitability? alix: the cost per $1.3 billion. kathy: that is saying that retail is less profitable than people expected. alix: cloud did well that retail was less profitable. kathy: cloud is going to become a bigger business for them long run than retail. it is much more profitable. ali

i have read that jeff bezos has a facility and even canada is ahead. the ceo was just in canada meeting with a bunch of pipeline and companies that will probably sign up more quickly than the u.s. giants who we are closer to. -- the u.s. clients we are closer to. they just finished with the american red cross and we announced last week, and i think max was at the conference, using drones for public safety. if you look at this incredible travesty in nepal, they keep talking about they can't get to remote locations to deliver things. well what is interesting is that ups was part of our public safety plan with the conference and this is ways to look at it. not just for pictures, delivery. we have insurance companies using it for risk assessment. everything that "market makers" talks about. matt: you can read max's profile of robert and a story of measure on the web. i tweeted it out as well. if you follow me. robert, you tweeted it out. robert: i have to give my wife credit, game of drones. matt: thank you for joining us. we will take a quick break. stay

. >>> this morning a company owned by amazon's jeff bezos is revealing it launched a rocket yesterday-off. >> the company shows a very smooth lift-off. bezos can be seen watching it. it climbs to 58 miles. at that point it catapults from the booster and returns to earth. >>> the head of mcdonald's says he could not wait to make changes. >>> sofia vergara's former fiance is sugar over her frozen embryos. he says he's sticking up for parenting. we'll see what rikki klieman has to say about that. that's ahead on "cbs this morning." i can't find my discover card! wait, i can freeze my account. [touch tone] introducing freeze it, from discover. it allows you to prevent new purchases on your account in seconds if your card is misplaced. not here... ♪ and once you find your card, you can switch it right on again. hey...you're back! [touch tone] freeze it, only from discover. get it at discover.com. ♪ ♪ ♪ ♪ if you want it ♪ ♪ go out and get it ♪ incredible! i've been claritin clear for ten days. when your allergy symptoms start, doctors recommend taking one claritin every day of your allergy

bill: so the amazon founder jeff bezos says that his space company, blue origin, is set to begin unmannedt first it is designed to fly 62 miles above the earth's surface. that is significant. we have senior advisor for space programs at intrepid museum and professor of columbia engineering school here in new york. nice to see you pal. how are you. >> hi, bill. bill: branson is in on it. elon musk is in on it. i want to know whether or not it is becoming easier with all these guys? >> i think it is becoming more hopeful. this is not an easy thing to do. i think it is hopeful where nasa led the way, the government led the way putting people into space. now it is time for commercial companies to get in on the action and find ways to be profitable. the names you mentioned, those are really successful entrepreneurs. so it gives me great hope if they think they can turn this into profitable business i think there is a lot of hope here. bill: maybe they see they can make money. >> great. bill: you say going 62 miles is significant? why? >> it is. the boundary of space where we defined it, somewh

. >> a company owned by amazon's jeff bezos is revealing it launched a rocket yesterday. >> and liftoffed a video showing this very smooth liftoff. bezos can be seen watching from the west texas facility. it climbed to an altitude of 58 miles. at that point a capsule separates from the booster and parachutes back to earth. blue origin apparent liply has plans to take tourists into >>> sofia vergara's former fiances >> sophia vergara's fiancee is suing her for their frozen embryos. that's ahead on "cbs this morning." roll smoke. dissolve. ready clip one. [touch tone] introducing freeze it, from discover. it allows you to prevent new purchases on your account in seconds if your card is misplaced. not here... ♪ and once you find your card, you can switch it right on again. hey...you're back! [touch tone] freeze it, only from discover. get it at discover.com. ♪ ♪ ♪ ♪ if you want it ♪ ♪ go out and get it ♪ incredible! i've been claritin clear for ten days. when your allergy symptoms start, doctors recommend taking one claritin every day of your allergy season for continuous relief. with powe

if you go back to jeff bezos, for example, and what he's done his quarters told investors here's whatmp on board. you always talk about short ers have us long. dick costolo is getting hit on a short-term miss. >> not just analysts. go ahead, yes. >> his most important constituency is his employees, because right now, they're getting hammered. the best people will want to flee the exits to get on to the next great new technology and he needs to talk to them about strategy over and over again. we've done our own market research on twitter on the book tour and when we go and talk to a group of business executives sort of in their 30s and 40s, there's lots and lots of tweets about what we have to say. when we talk on business school campuses, there's no twitter noise there. the noise we get is on whatsupp and group me and facebook. they're not capturing this 20 something group that's going to be critical for growth. >> bringing in the panel here guys. carol? >> hi jack and suzy. it's carol roth. speaking of the mbas of the future, if you look at the companies coming out today, you have ai

i was looking at two examples steve ballmer and jeff bezos. wealth before he got to work today. before 8:00. steve ballmer made a billion dollars. he's already paid for half of his basketball team just today. >> even as people are talking about the value of that team whether it's worth what he paid. >> clearly it's not given recent trades. it's the bad things that didn't show up in the earnings. the currency disasters that really didn't show up. the revenues we're okay. but nobody you know we didn't have too many really bad disappointments. >> it's interesting because it came in a week where we had economic disappointments. notely that durable goods number this morning. and the gdp forecast falling close to zero. why do we look past all of the macro data? >> that's what the market sent out for six years. i don't think the rally has been hated. it's been misunderstood. people look at the economic data, look what's going on around them and they can't reconcile the fact that the market has gone up for six straight years. so can the market continu

i think jeff bezos is awesome because he's connecting commerce to innovation.ke bursting out into cloud computing suddenly. so we're all empowered to put us, you know, to create businesses in the cloud as ubm is doing as -- ibm, as others are doing now. but i just think bezos is truly awesome. i think sheryl sandberg and mark zuckerberg the way they're doing facebook, a platform upon which to build things, that's really cool. i think we're seeing innovation all over the place. i ran into tony friday dell yesterday, you know, he was the person who helped design the ipod. but now he's creating an internet of things where my thermostat and my garage door and my whatever it may be are all connected and i can, you know, sort of help my life become better through connecting things. so there's just enormous innovation. one interesting question is everybody i've mentioned, you know is in the u.s. why is it we're a more innovative society? i think because we allow people to question authority. there was a discussion about code pink earlier. i didn't like -- i mean, i wa

>> i like jeff bezos, so courageous so honest.ck? >> kevin plank, love him. everybody we want to trade with me we're going after it. >> mark. >> scarborough. >> tender, yet tough. >> truth and trust. >> i was asking you to ask a final question. >> genius tramps and thieves. >> say that. >> genius is employees woez work you don't understand coders tramps are people who do not work within your eyesight, people working remotely. thieves, those are the people dynamics in the organization that spread fear because fear is the biggest thief in business today. >> all right. exciting. we thank you so much for stopping by. >> thank you. >> the book "the real life mba" jack and suzy welch. thank you. >> thank you. >> we shall return. er e ll still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around